Ramkrishna 'Forges' ahead

Ramkrishna Forgings rose over 4.5% to hit an intraday high at Rs.1023.95, not too far from its 52-week high of Rs.1100.

The stock price surged after it announced that it has won an export order worth Rs 130 crore from an OEM in a CIS country for the period of 3 years.

The company manufactures forged products including a ring rolling line and machined products of which 89% sales comes from auto and transport-related companies. The balance between domestic and exports is 47:53 respectively. Export markets for the company are primarily North America accounting for roughly 38% of total sales and over 75% of export sales.

A fortnight ago, the company announced receipt of a 4-year deal with a European company worth € 20 million overall.